OPEN-SOURCE SCRIPT
SKS_SQZPRO
//@originalauthor Makit0
//
//script based in:
// original John Carter's ideas (SQUEEZE & SQUEEZE PRO) simplertrading.com/
// LazyBear's script (Squeeze Momentum Indicator)![Squeeze Momentum Indicator [LazyBear]](https://s3.tradingview.com/n/nqQ1DT5a_mid.png)
//
// USE IT IN CONJUNCTION WITH THE SQUEEZE PRO ARROWS INDICATOR
//
// This system is based in the volatility reversion to the mean: volatility contraction leads to volatility expansion and the other way on
// The dot signal is a warning of volatility compression, more often than not this leads to a expansion of volatility and a move in the action price usually bigger than the expected move
// Be aware of the trend direction, use the momentum histogram to see the slope direction
//
// There are 3 levels of compression:
// Level 1: ORANGE, the lesser compresion level
// Level 2: RED, the normal level marked by the original squeeze indicator
// Level 3: YELLOW, the max compression level
// The more the compression the bigger the after move
//
// The GREEN dots signal the volatility expansion out of the squeeze ranges
MODIFIED HEAVILY!! MOM_LINE, MOMBars
//
//script based in:
// original John Carter's ideas (SQUEEZE & SQUEEZE PRO) simplertrading.com/
// LazyBear's script (Squeeze Momentum Indicator)
//
// USE IT IN CONJUNCTION WITH THE SQUEEZE PRO ARROWS INDICATOR
//
// This system is based in the volatility reversion to the mean: volatility contraction leads to volatility expansion and the other way on
// The dot signal is a warning of volatility compression, more often than not this leads to a expansion of volatility and a move in the action price usually bigger than the expected move
// Be aware of the trend direction, use the momentum histogram to see the slope direction
//
// There are 3 levels of compression:
// Level 1: ORANGE, the lesser compresion level
// Level 2: RED, the normal level marked by the original squeeze indicator
// Level 3: YELLOW, the max compression level
// The more the compression the bigger the after move
//
// The GREEN dots signal the volatility expansion out of the squeeze ranges
MODIFIED HEAVILY!! MOM_LINE, MOMBars
Script open-source
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